Beazley delivers improved COR but profits down on investment returns
Beazley has reported an improved combined operating ratio of 87% for the first half of 2022, from 94% delivered in the same period last year.
Despite the improvement pre-tax profit slumped to $22.3m (£18.7m) compared to $167.3m for the start of 2021.
The provider explained that it faced a net investment loss in 2022 of $193m versus a profit of $83.6m last year.
Gross written premiums were up 26% year-on-year to $2.55bn.
Adrian Cox, CEO of Beazley commented: “We have maintained the momentum of the second half of 2021 with gross premiums increasing by 26% alongside better than expected claims experience. A challenging investment
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